Tyree's group, STMG Holdings LLC -- which also purportedly includes Blackhawks owner Rocky Wirtz, according to the Sun-Times -- said they'd pony up $25 million for the Sun-Times Media Group, which filed for bankruptcy protection in March.

Chicago Through Your Eyes

The deal's subject to court approval, and would include up to $5 million in cash. The Tyree group would take on about $20 million in liabilities.

The bankruptcy judge must also consider competing offers, if any emerge.

The sale's also contingent upon labor groups agreeing to continue with their 15 percent wage-and-benefits cut, many of which were set to expire in the event of a sale.